Nigeria and Ghana raise petrol prices amid higher crude costs

In Nigeria, fuel retailers lifted Premium Motor Spirit (PMS) prices by roughly N40‑N50 per litre, with some stations charging up to N1,220 per litre. The increase follows a jump in ex‑depot fuel costs to a band of N1,125‑N1,175 per litre. Dangote Refinery also resumed selling refined products in dollars, pricing petrol at $0.799 per litre (about N1,075). Crude prices eased slightly, with Brent around $84 per barrel.

In Ghana, Oil Marketing Companies began raising pump prices, led by Star Oil, which set petrol at GH¢13.67 per litre (up from GH¢12.79) and diesel at GH¢16.27 (up from GH¢14.95). Prices were set above the regulator’s approved floor amid renewed geopolitical tensions that pushed international crude prices higher and a modest depreciation of the Ghanaian cedi. Other firms such as GOIL also adjusted their prices in line with the market floor.